Silvercrest Asset Management Group LLC Quarterly report pursuant to Section 13 or 15(d)

Commitments and Contingencies (Tables)

9 Months Ended

Sep. 30, 2022

The components of lease expense for the three and nine months ended September 30, 2022 and 2021 were as follows:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
Operating Lease Cost	$	1,531	$	1,531	$	4,593	$	4,603
Financing Lease Cost:
Amortization of ROU assets		28		30		86		90
Interest on lease liabilities		2		3		6		8
Total		30		33		92		98

Future minimum lease payments and rentals under lease agreements for office space are as follows:


	Operating Leases		Non-cancellable Subleases			Operating Lease Liabilities
Remainder of 2022	$	1,611	$	(39	)	$	1,572
2023		6,099		(6	)		6,093
2024		6,150		—			6,150
2025		6,078		—			6,078
2026		5,999		—			5,999
Thereafter		10,368		—			10,368
Total	$	36,305	$	(45	)	$	36,260
Weighted-average remaining lease term – operating leases (months)							70.5
Weighted-average discount rate							4.2	%

The assets relating to finance leases that are included in equipment as of September 30, 2022 and December 31, 2021 are as follows:


	September 30, 2022			December 31, 2021
Finance lease assets included in furniture and equipment	$	503		$	434
Less: Accumulated depreciation and amortization		(131	)		(187	)
	$	372		$	247

Future minimum lease payments under finance leases are as follows:


	Future Minimum Lease Commitments
Remainder of 2022	$	29
2023		109
2024		85
2025		75
2026		45
Thereafter		31
Total	$	374
Weighted-average remaining lease term – finance leases (months)		46.8
Weighted-average discount rate		3.0	%